Playa Vista-based mobile ordering point-of-sale software developer Appetize Technologies Inc. announced Aug. 9 an undisclosed investment from the National Football League, raising the total amount of funding the company has raised to $50 million.
The company previously announced a $20 million Series B funding round in January, saying at the time it had raised more than $45 million.
Appetize markets mostly to sports fans and entertainment venues and was founded in 2011. Appetize is hosted on both Android and iOS devices and allows concession outlets or restaurants to manage inventory, place and fulfill orders and adjust menus from a single cloud server. Users can order from their seats and pick up the item when they are alerted it is ready, an attempt to minimize time spent in line away from the game.
So far, four professional athletic teams have agreed to prioritize Appetize for concession orders, including Major League Soccer's Los Angeles Football Club and The National Basketball Association's Sacramento Kings.
The National Football League’s venture division 32 Equity financed the investment in Appetize. 32 Equity was created in 2013 with Providence Equity Partners after NFL commissioner Roger Goodell expressed desire to increase the company’s revenue to $25 billion by 2027. So far, 32 Equity has also invested in Texas team management software developer Blue Star Sports.
Appetize’s other investors include Westwood-based Shamrock Capital Advisors; downtown-based Oak View Group; and the Los Angeles Dodger's incubator Global Sports Venture Studio.
Editor's Note: The NFL's investment figure has been updated. Appetize did not disclose the amount the sports league committed in the round.
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